French luxury group PPR soon to be known as Kering?

French luxury group PPR soon to be known as Kering?

French luxury and sporting group PPR is considering changing its name to Kering. The rebranding should be made official this month, according to sources in Paris. The choice is not really surprising, as of the old "Pinault-Printemps-La Redoute", Printemps was sold in 2006 and soon La Redoute will suffer the same fate.

Logical name change for a changed company

According to press agency Bloomberg the French company deposited the name at the US Patent & Trademark’s Office in November of last year. The name Kering (pronounce as “caring”) will be used for all their activities, going from fashion to leather.

 

The choice for luxury goods is logical: at the moment Gucci, Bottega, Veneta, Saint-Laurent and others bring in 64% of total sales (9.7 billion euro in 2012) and they generate 84% of recurring profit, while other branches, like Fnac and La Redoute, showed a loss of 276 million euro in 2012. At the moment PPR is worth 21.9 billion euro on the stock market. Its stock has soared this year, with a rise of 23% so far.

 

PPR without P and R

The name change should be the climax of a transformation, in which the group sold the chain Conforama (2010) and two home shopping subsidiaries (end of February 2013). This spring PPR will also bring entertainment chain Fnac to the stock exchange, while news about the sale of Redcats (La Redoute) is expected later this year.

 

Without all those retail activities the current name would not fit the bill anymore, but communications manager Louise Beveridge refused to comment about the rumour of a name change. For the French group it would be the fourth name change since 1988. Back then the company operated as Pinault, which later changed to Pinault-Printemps, then Pinault-Printemps-La Redoute and until further notice PPR.

Questions or comments? Please feel free to contact the editors


Amazon launches its own meal box

20/07/2017

Amazon keeps up its innovation drive and has now turned its attention to the meal box industry. In several cities with a Amazon Fresh presence, customers can now order a meal box.

Decent profit growth for Unilever

20/07/2017

Over the first six months of 2017, Unilever’s profit and turnover grew substantially, mainly thanks to price increases and a positive evolution in the care and ice cream divisions.

Carrefour rolls out discount formula Supeco in Italy

19/07/2017

The Carrefour group just opened its first full-blown Supeco store in Italy. The soft discount formula targets both families and professional customers.

Amazon Fresh expands to Hamburg

19/07/2017

Amazon continues to expand its Amazon Fresh service across Germany after its launch several months ago. Following Berlin and Potsdam, it is now available in a large part of Hamburg.

Subway trials new formula

19/07/2017

Fast food chain Subway is trialing a new formula in several of its stores, with a visually altered design and several technological innovations.

Unilever will not get Reckitt Benckiser's food division

19/07/2017

American McCormick & Co has acquired Reckitt Benckiser’s food division for 4.2 billion dollars (3.6 billion euro), trumping Unilever to the purchase.

Back to top